NC H797

Creates Site Infrastructure Development Fund within the Department of Commerce to provide subsidized loans to local government units for acquiring land, improving property, and installing broadband infrastructure.

Establishes interest rates for subsidized loans at 0% for tier one counties, 1% for tier two counties, and 2% for tier three counties, with principal reduction based on jobs created and maintained by the business.

Requires local government units receiving loans to obtain written agreements from businesses leasing or purchasing developed property that include performance criteria, health insurance requirements, safety standards, and environmental compliance.

Shifts program administration and project approval from an Economic Investment Committee to the Department of Commerce, with consultation from the North Carolina Rural Economic Development Center.

Appropriates funds for fiscal year 2013-2014 and directs the Golden Leaf Foundation to allocate at least 15% of annual receipts annually to a loan program aligned with this initiative.